The Inter Stable Token (IST) is a fully collateralized, crypto-backed decentralized stable token built for the interchain ecosystem on the Agoric chain. IST aims to track the value of the US dollar (USD) to support wide usability and to give Agoric and interchain participants an asset with reduced price volatility. It also serves as the native fee token for the Agoric platform, helping power key functions and stability within the Agoric cryptoeconomy.

The Inter Protocol

The Inter Protocol is what gives IST its stability. Anyone can permissionlessly deposit cryptocurrency collateral into their own vault. Users mint against the collateral they place in their vault to obtain IST. The stability fee for minting is determined daily, and there is also an extra upfront minting fee when minting IST. These fees are incorporated into the debt the user must settle when repaying IST and withdrawing their collateral. Fee income is split between the Reserve Pool, which backs the Inter Protocol’s stability, and a Reward Pool that promotes chain security by rewarding BLD stakers.